Stanley Ho

Tycoon spices up foundation

PUBLISHED : Sunday, 17 December, 1995, 12:00am
UPDATED : Sunday, 17 December, 1995, 12:00am


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PROMINENT Indian business leader Hari Harilela is to join 20 local tycoons and become one of the trustees of the Better Hong Kong Foundation.

The trustees include leading businessmen Stanley Ho, Li Ka-shing, Tsang Hin-chi and Peter Woo Kwong-ching.

The foundation, which was set up in September, had been regarded as being exclusively for local Chinese businessmen.

It was started with $100 million, and aims to boost foreign investors' confidence in Hong Kong's future.

Mr Harilela, who has committed $5 million to the foundation, denied he was joining to protect the interests of the Indian business community but agreed his participation would 'add a flavour' to the all-Chinese board of trustees.

He said Hong Kong needed to build a better relationship with China and let mainland authorities know the importance of the territory maintaining its way of life.

It is believed the chairman of Vitasoy International Holdings, Winston Lo Yau-lai, has contributed $2 million and become an advisory council member.

The foundation is seeking the view of consulates in Hong Kong on what might happen after 1997.

These views would be passed on to the mainland authorities when trustees visit Beijing in mid-January.